Heath Sampson: Yeah. We have I think it’s about 15% — 16%. That’s in the deck. It’s a small font. 16% of our revenue is MA for us. And then in the other segments some specific monetary to tire Personal Care there’s no exposure on MA. And in the monitoring side, again it’s pretty concentrated to one client. And but we feel good about where the where those projections are. So within NYMT that 16% a lot of, it was higher before and that was part of what we what we lost in Q1. But MA is a critical benefit that continues to grow across all transportation. And we expect that we will win and grow in MA as well. Probably the biggest thing from a market perspective and it gets back to what I talked about a little bit earlier difference and then Medicaid.
So you really have to understand the member. And I understand when that trip is taken and how that trip is taken. So if you have the right insight and technology, you can you can service that member at the right cost. And a lot of those efforts we put in place. So but as you know MA, just across the board for payers as a top issue, in many supplemental benefits are going to be cut, Transportation one of them that is going to continue. So no it’s 16%. We do expect it to grow. And it’s manageable and a big part of our business as we move forward.
Rishi Parekh: And sorry, what are the within the NEMT business, what trips – is it mostly for dialysis, Physician offices, majority of the trips are…
Heath Sampson: Well, so MA is not dialysis for us. The bigger volume for that is in the Medicaid side their duals within MA that will have the dialysis. So it is your adult daycare but there is the normal kind of breakdown of the different trip types, but it’s less dialysis more in line with what you’d expect with people that are over 65.
Rishi Parekh: Okay, great. And then on I believe your New Jersey contracts up for renewal later this August. I’m not sure if that’s the contract that’s currently under RSP. I believe this is also a fairly sizable contract. Can you just provide us with some idea as to how that process is going? Is it still expected to be an exclusive contract? What’s your visibility around it? And can you quantify your exposure?
Heath Sampson: Yes. So we have a good slide in the deck that talks about what’s in the renewals and the state business is a critical part and New Jersey that you said is one of our important customers, which we’ve had for many, many years. We have a really strong relationship with them. Why? Because we’re performing and we do more for their members than just the trip. And we’re an important part of their community within New Jersey on ensuring that people are working and the transportation providers are fulfilling their commitments. So my point is we’re really deep within New Jersey performing well. We have a very low cost platform. So we meet and check all the boxes. So I feel good about our ability to renew all of our state business and even gain some state business.
And the other thing we said there in the script, because of what we have done over the last six to 12 months, our win rate in renewals as well as gaining new business is very strong. So I expect that to continue and that 600 million of renewals that we have this year I expect we will win more of that and then lose. So again, on that, those are RFPs this year. I don’t expect any impact from any changes both positively or if there is something negatively that comes off until 2025.
Rishi Parekh: Okay. And just a last question on PCS. You’ve also obviously, noted that it might be in the area or segment that you may look to sell. Addus had made some comments in terms of they’re just like a New York, would love to just better understand where you are in this process and do you view it as a multiyear process or do you view it to be aligned with your Matrix asset sale process?
Heath Sampson: Well, so Matrix definitely is going to be something we sell for us and our job, my job is to ensure that we drive shareholder value and the best way to drive shareholder value. When I look at each of the individual parts is to build the best platform, the lowest cost platform that grows and that’s exactly what we’re doing for personal care. And that’s really our focus. But we always will be looking to see what is the right thing to do from a shareholder value, so there’s a lot of demand for personal care. Personal care, and there’s lots of companies, whether that’s Addus, whether that’s other some large private and that are doing wonderful things around personal care and the value that that adds to the person’s healthcare outcome.
So it’s a critical part of healthcare. So will be a value is that’s our focus and there will be demand for personal care. And then I do expect there will be trades that happen around personal care from an M&A perspective. So everything’s on the table for us. But our focus and priority right now is to do what I said before, build a platform that’s growing and can generate cash flow. And that’s the focus of ours right now.
Rishi Parekh: Great. Thank you.
Operator: Our next question is from Mike Petusky with Barrington Research. Please proceed with your question.
Mike Petusky: Hey. Good morning, guys, and right off the bat. I’m going to apologize. I missed part of this call. So if you’ve commented on this if you could just comment on it quickly, I’d appreciate it.
Heath Sampson: Okay.
Mike Petusky: My benefit. Did you guys speak to that receivable that was sort of out there after last quarter that there was like $35 million, $36 million? Have you guys spoken to that or comment on that?
Barbara Gutierrez: Yes, we did. We did in — I think in the prepared remarks. We commented that we received a significant amount of that that payment in the quarter. Yes. So, that’s helpful to our cash flow for sure.
Mike Petusky: Okay. All right. And then, Heath, I was just wondering, you said a lot of positive things about matrix and what they’ve done last year 18 months, last six months, said that they’re growing well. I believe that they’ll get a really good multiple — maybe not signify, but really good multiple. But I’d love to know can you give us any help on either trailing adjusted EBITDA or run rate EBITDA or something that’s sort of — you may not get questions around multiple because we can sort of guess at that if we have a good sense of what the EBITDA ranges?
